BRICS bloc adopts gold to power its new payment system, aiming to challenge US dollar dominance.This move signifies a strategic shift towards de-dollarisation, enhancing their role in global economics.BRICS Leans on Gold as it Takes on the US DollarThe BRICS bloc is to unveil an intriguing development at its 2024 summit. Discussions are underway about launching a blockchain-based payment system, possibly introducing a native trade currency. Regardless, gold will underpin the new system as BRICS aims to challenge the US dollar. Reports indicate the metal will constitute 40% of the payment platform’s unit of account, while the remaining will be…
Author: Sam Allcock
Sam Allcock
Sam Allcock is a seasoned entrepreneur and passionate storyteller with a keen eye for emerging trends and viral phenomena. With over a decade of experience in the business world, Sam has successfully launched several startups that blend innovation with creativity. At 88com.net, he brings his expertise in curating compelling content that captures the zeitgeist of our digital age. When he's not exploring the latest trends, Sam enjoys connecting with his audience and sharing insights that inspire and inform. Join him on a journey through the stories that are shaping our world today!
After being transferred to the same detention area, Sean ‘Diddy’ Combs has engaged the services of the same lawyer representing Sam Bankman-Fried.Combs, facing serious allegations, is appealing his detention status, coinciding with Bankman-Fried’s legal battles, both entrusting their defence to Alexandra Shapiro’s expert hands.Hires Sam Bankman-Fried’s LawyerThe fall of FTX marked one of the most significant controversies in the cryptocurrency world, with the company once being the largest exchange platform globally. Sam Bankman-Fried, its founder, emerged as a central figure in what became an immense financial scandal. Now, with both Sean ‘Diddy’ Combs and Bankman-Fried detained in a New York…
Switalskis Solicitors has relocated its Leeds office to the innovative West Village development, marking a new chapter for the firm.After 15 years at St James House, the firm now occupies a 3,326 sq ft state-of-the-art office.The new location encourages employee interaction and productivity with modern features.The relocation consolidates the Leeds team into one unified space, enhancing operational efficiency.This move is part of Switalskis’ broader growth strategy and commitment to employee wellbeing.Switalskis Solicitors has made a significant move from St James House to the cutting-edge West Village development on Wellington Street, initiating a fresh chapter for the firm. The relocation is…
Tesla, led by Elon Musk, has maintained an intriguing relationship with Bitcoin, the preeminent cryptocurrency. The company’s ventures into BTC provide significant insights into the integration of digital assets in traditional business models.Tesla’s financial manoeuvres involving Bitcoin are closely watched by both investors and market analysts. This article delves into the company’s current Bitcoin holdings and its strategic implications for the future.Tesla’s initial foray into Bitcoin marked a significant moment in cryptocurrency’s history. In early 2021, the company made headlines by investing heavily in Bitcoin. At the time, the move was viewed as a bold endorsement of cryptocurrency by one…
The Energy Conundrum in AI’s Rapid Expansion As artificial intelligence (AI) continues its meteoric rise, so do concerns about the enormous energy demands that come with it. According to projections, by 2027, AI infrastructure could consume as much electricity annually as countries like Sweden or the Netherlands. With major tech companies building massive AI data centers worldwide, the search for sustainable energy solutions has intensified. In this context, Nvidia CEO Jensen Huang has offered a bold proposition: nuclear energy might be the key to AI’s energy future. During a recent interview with Bloomberg, Huang expressed his belief that nuclear power…
Gemini has joined the ranks of cryptocurrency exchanges withdrawing from Canada amid tightening regulations. This decision aligns with previous withdrawals by Binance and OKX.Canadian regulators have imposed new constraints, prompting several prominent exchanges to reassess their presence in the nation. The departure marks a pivotal moment in the North American crypto market.Gemini becomes the Latest Victim of Regulatory TighteningThe fluctuating world of cryptocurrency faces another setback as Gemini announces its withdrawal from the Canadian market. This decision follows the trend set by other major exchanges like Binance and OKX as they navigate the increasingly stringent regulatory landscape in Canada. These…
September 2024 was marked by a troubling surge in crypto-related cyberattacks, culminating in losses exceeding $120 million. Centralised exchanges emerged as the primary victims.With more than 20 recorded incidents, this month’s losses represent the second-lowest in 2024, yet underscore the ongoing vulnerabilities in the crypto ecosystem.The latest reports indicate that centralised exchanges continued to bear the brunt of the attacks, highlighting critical security gaps. Major platforms like BingX and Indodax were targeted, losing a staggering $44 million and $21 million, respectively.Blockchain security firm Peckshield documented September’s total losses at $120.23 million, spread over more than 20 distinct hacks. Notably, these…
The BRICS bloc’s pursuit of reducing US dollar reliance is gaining momentum. BlackRock, a notable asset manager, is discreetly setting the stage with defensive strategies.Incorporating digital finance, BlackRock aligns with the global trend towards de-dollarization. By investing in a stablecoin, it aims to navigate the evolving financial terrain.BlackRock’s Strategy Amid Global Economic ShiftsBlackRock, a leading asset manager with assets worth $9 trillion, is reportedly taking strategic steps to guard against the potential collapse of the US dollar. By establishing a new fund to support Ethena Labs’ UStb stablecoin, BlackRock aims to offer a secure financial product in an increasingly volatile…
In the unpredictable realm of cryptocurrency, one man’s story encapsulates both risk and reward.Starting with nothing but an indomitable spirit, he transformed $800 into a remarkable $192,000 in just two years.The Struggles of a GasbeggarIn the world of cryptocurrency, gas fees are akin to tolls on a motorway, essential for transaction validation. For a beginner with no funds, these fees can be a formidable barrier. Our protagonist had to scrounge for Ethereum just to participate in free airdrops, earning him the nickname ‘gasbeggar.’ This moniker highlights the challenges new entrants face in this volatile space.Despite these hurdles, he did not…
Circle has unveiled plans to introduce its USDC stablecoin to the Australian market through a strategic partnership.Collaborating with MHC Digital Group, Circle aims to leverage new regional opportunities.Strategic Expansion of USDC into the Australian MarketIn an ever-evolving crypto market, Circle has announced a strategic partnership aimed at expanding its USDC reach into Australia. This move underscores the growing importance of stablecoins as secure alternatives in the digital finance landscape.The partnership with Mark Carnegie’s venture group, MHC Digital, is poised to open new avenues for the distribution of USDC across the Asia-Pacific region. By collaborating with a locally anchored entity, Circle…